National Crypto Custodial Platform in Kazakhstan to Launch by May

TLDR

• Kazakhstan plans to launch a national crypto custodial service by May 2026.
• The new service will be based on the Central Depository to securely store digital assets.
• The country aims to establish a legal framework for cryptocurrency transactions in 2026.
• Kazakhstan’s central bank has already allocated $350 million for crypto asset acquisition.
• A strategic crypto reserve could reach $1 billion, including seized digital assets.

Kazakhstan plans to introduce a state-controlled custodial platform for cryptocurrencies by May 2026. This move follows the country’s growing role in the global crypto mining industry and its efforts to establish a regulated market for digital assets. Timur Suleimenov, the Chairman of the National Bank of Kazakhstan (NBK), confirmed the development during a government meeting in Astana.

Kazakhstan’s Crypto Custodial Service

Kazakhstan is set to launch a national crypto custodial service to store digital assets. The service will be based on the Central Depository and aims to provide secure storage for cryptocurrencies. According to Suleimenov, this move is part of the broader effort to create a legal framework for crypto in Kazakhstan.

The custodial platform will be operational by May 2026, marking a significant milestone in the country’s crypto market development. The National Bank of Kazakhstan has worked extensively on legislation, which is expected to regulate digital asset transactions and foster a controlled circulation of cryptocurrencies within the country.

Kazakhstan’s central bank has also made moves toward investing in cryptocurrency using state reserves. The National Investment Corporation (NIC), a subsidiary of the NBK, has received $350 million to acquire crypto assets. Moreover, Kazakhstan plans to create a strategic reserve in cryptocurrencies, which may reach up to $1 billion.

The country is also tackling capital flight by repatriating seized digital assets and incorporating them into the reserve. The NBK has launched a regulatory sandbox that includes various financial innovations, such as crypto exchanges, tokenization platforms, and stablecoin issuers. These projects will eventually transition to a fully licensed regime.

Crypto City and Digital Asset Innovation

Kazakhstan is moving ahead with plans to establish a “Crypto City” in Alatau, which will serve as a pilot zone for digital assets. The city, located in the Almaty region, will enable the use of cryptocurrencies for various goods and services. This zone will also focus on the integration of cryptocurrencies into key economic sectors like finance, services, and data storage.

Alatau’s strategic location along a major transport corridor between China and Western Europe positions it as a promising hub for cryptocurrency and blockchain innovations. The city will play a critical role in the government’s broader strategy to legalize and regulate cryptocurrency transactions across Kazakhstan.

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